The pandemic-struck 2020 has put all of humanity on a rough patch but for the tech industry. Start-up firms embracing new technology innovations like AI and Robotics are gearing themselves from the setback. The transition from office to work from home format is making cybersecurity and cloud storage thrive like never. Some business sectors are finding it challenging to stay afloat. However, this year shows some potential sectors that will rule the future.
Innovation and inclusion are bringing up rapid changes in the start-up ecosystem. Technology is not the only disruptor; remote working is pushing new strides in personalizing interaction and communication. Let us look at five promising start-up trends that will change the business complexion.
1. Artificial Intelligence
Whether it is marketing tools, digital ads, and analytics, AI is powering a considerable chunk of business initiatives and service platforms. 63% of people are active users of Artificial Intelligence unknowingly. AI is not a robotic device, as it may sound. It creates human-like intelligence in machines and assists you in your decision-making, creative assignments, and pattern recognition. AI works as background support to help you make faster decisions and efficient system processes.
Ecommerce personalization, yield prediction, cannabis industry are some areas showing the exponential power of AI. That’s why you can buy weed in bulk online and predict stock markets of marijuana by leveraging AI.
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2. Remote Working
According to a research study, 36.2 million Americans will work remotely by 2025. Remote working is not an experiment anymore but an alternative way to work across multiple domains long-term. Technology advancements like broadband and internet and office tasks’ digitization are doing away with daily commuting. Many start-ups worldwide are switching to remote working to bring down the fixed monthly office rents, equipment cost, and space wastage.
Remote working helps a firm build a larger talent pool and is a viable opportunity to save money and use funds in the best possible way. It also helps remote workers stay happy and more productive.
3. Industry 4.0
Hailed as the ‘Internet of Things (IoT),’ Industry 4.0 is the Next Industrial Revolution for start-ups. It is a well-coordinated system of machines, computers, objects, and people engaged in transferring data over a network. The Industrial IoT (IIoT) market predicted to reach $123B in 2021 will power Smart Cities, Connected Car IoT projects, and other limitless applications for the industrial world.
Seen as the next step to personalized marketing,Hyper-Personalization uses real-time data and AI to furnish user-relevant service and content. Marketers use personalization and push notifications in email marketing campaigns to gauge purchase behavior trends, transactional history, and other data. Companies in automotive and real estate use personalization in official mails to greet email recipients and start a dialogue. It helps a marketer know user engagement and get suitable conversions.
5. Voice Recognition
Also called speech recognition, voice recognition is a hardware device that helps decode the human voice. It performs commands without the help of a mouse, keyboard, or any other buttons. Automatic Speech Recognition software programs recognize the voice converting the speech to text. ASR programs are finding their way in several industries such as telecommunications, healthcare, and hands-free computing. To enable voice recognition, you must have a sound card and a headset or a microphone and voice recognition support software.
The COVID-19 pandemic has hit most business sectors, but the tech industry is witnessing plenty of new start-up trends to enhance customer experience and delight. Now is the time to think of self-driven cars, virtual reality eye examinations, and much more. With such technological advancements on the near horizon, 2021 will be an exciting year for world citizens.